What happened yesterday?
The S&P 500 gained 1.7% to 3,419.45, as of 4:07pm New York Time after a barrage of overnight tweets from President Donald Trump advocating a piecemeal approach. The Dow Jones Industrial Average gained 1.9% to 28,303.46, the highest in five weeks on the biggest rise in 12 weeks. The FTSE 100, on the other hand, closed flat once again, with an increasing sense on inertia taking hold on European markets.
Sterling dipped as Brexit tensions grow while the Euro rose 0.2 percent to $1.1763. The Japanese yen depreciated 0.3% to 105.99 per dollar, the weakest in almost four weeks.
The yield on 10-year Treasuries increased five basis points to 0.79%, the highest in almost four months. Britain’s 10-year yield rose two basis points to 0.303%, the highest in more than five weeks.
In terms of commodities, gold strengthened 0.5 percent to $1,887.65 an ounce while copper climbed 2.1% to $3.03 a pound, the highest in a week.
In company news:
Greene King has announced that it expects to cut up to 800 jobs and shut dozens of pubs after warning that ministers’ 10pm curfew has trashed the hospitality industry.
Google faced sceptical questioning from US Supreme Court justices yesterday over its claim that code it copied from rival Oracle is not protected by copyright.
BDO may be forced to bail out its Spanish sister company which has been slapped with a €126.8m (£115m) over its role in an accounting scandal. BDO was among those convicted by Spain’s highest criminal court for its involvement in falsifying the accounts of fishing firm Pescanova between 2010 and 2012.